Wall Street is edging lower Monday to start a week that could bring more action to financial markets, with several big reports on the calendar. The Standard & Poor's 500 was 0.4% lower in early trading. The Dow Jones industrial average was down 37 points, or 0.1%, as of 9:45 a.m. Eastern, and the Nasdaq composite was 0.7% lower.
Not only do higher rates and yields hurt prices for investments, they also drag on the economy broadly and raise the pressure on the entire financial system. Federal Reserve Chair Jerome Powell gave some hope recently that the rise in longer-term Treasury yields could act as substitutes for further rate hikes, which could mean the Fed may be done with them. That in turn could push up the timeline for a potential cut to interest rates, which can juice financial markets.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retail earnings begin this week. 'It's getting worse,' an analyst saysEarnings Watch: Walmart, Target and other retailers report but Wall Street is not optimistic
Read more »